Morgan Stanley Sticks to Its Hold Rating for Zions Bancorporation National Association (ZION)

In a report released today, Ken Zerbe from Morgan Stanley maintained a Hold rating on Zions Bancorporation National Association (ZION), with a price target of $58.00. The company’s shares closed last Wednesday at $56.41.

According to TipRanks.com, Zerbe is a 4-star analyst with an average return of 16.7% and a 59.6% success rate. Zerbe covers the Financial sector, focusing on stocks such as People’s United Financial, Valley National Bancorp, and Cadence Bancorporation.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Zions Bancorporation National Association with a $56.22 average price target.

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Based on Zions Bancorporation National Association’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $716 million and net profit of $284 million. In comparison, last year the company earned revenue of $711 million and had a net profit of $183 million.

Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ZION in relation to earlier this year. Earlier this month, David Heaney, a Director at ZION bought 2,508 shares for a total of $15,920.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Zions Bancorporation engages in the provision of banking and related services and offers commercial, retail banking and mortgage lending products & services. Its products involves personal banking services to individuals, including home mortgages, bankcard, other installment loans, home equity lines of credit, checking accounts, savings accounts, certificates of deposit of various types and maturities, trust services, safe deposit facilities, direct deposit, and Internet & mobile banking. The company was founded in April 1955 and is headquartered in Salt Lake City, UT.